Thrissur, 05 July (H.S.):CPM state secretary M.V. Govindan on Sunday alleged that attempts were being made to facilitate the privatisation of the Vizhinjam International Seaport and claimed that any transfer of more than 25 per cent of the project's shares would require the prior approval of the Kerala government under the existing concession agreement.

Addressing a press conference in Thrissur, Govindan alleged that the proposed share transaction involving the Adani Group and Mediterranean Shipping Company (MSC) was being pursued without obtaining the mandatory consent of the state government. He claimed that Adani had approached the Securities and Exchange Board of India (SEBI) seeking approval for the transaction and alleged that the application, which later became public, violated both the concession agreement and the law.

Govindan said the Kerala government had invested nearly Rs 6,000 crore in the Vizhinjam project, largely through KIIFB, while the Adani Group had invested around Rs 2,497 crore. He said the state's investment, coupled with Vizhinjam's natural geographical advantages, had transformed the port into one of the world's emerging transhipment hubs.

Acknowledging the port's rapid growth, the CPM leader said MSC, one of the world's largest container shipping companies, had shown significant interest in Vizhinjam. He claimed that no other port had handled such a large number of MSC vessels within such a short period.

Referring to the concession agreement signed during the UDF government led by former Chief Minister Oommen Chandy, Govindan said the Kerala government would begin receiving a share of the port's operational revenue only from 2035 onwards. He maintained that the agreement also stipulates that any transfer of more than 25 per cent of the project's shares requires prior approval from the state government and that the government has the authority to terminate the agreement if this condition is violated.

Questioning Chief Minister V.D. Satheesan's response to the controversy, Govindan said the Chief Minister had stated in the Assembly that he came to know about the proposed transaction only through media reports. He said such a statement raised serious concerns about the government's handling of the issue.

Govindan also alleged that the state government's White Paper, Budget and the proposed 'Mission Samudra' initiative reflected a broader policy of privatising Kerala's natural resources and strategic infrastructure. He further claimed that discussions had taken place between individuals connected with the Sabarimala issue, representatives of the Adani Group and Satheesan before he became Chief Minister, though he did not present evidence to substantiate the allegation.

The CPM leader also referred to discussions within the INDIA bloc, claiming that Congress leader Rahul Gandhi had acknowledged that the original Vizhinjam concession agreement with Adani was signed during the UDF government headed by Oommen Chandy.

Demanding that the proposed share transfer be halted, Govindan alleged there was a 'major understanding' involving the Chief Minister, the Adani Group and MSC. If the concession agreement had been violated, he said, the Kerala government should consider cancelling it. He also warned that the people of Kerala would resist any attempt to privatise the state's strategic assets and hand them over to multinational corporations.

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Hindusthan Samachar / Arun Lakshman